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Crypto Stablecoin Law Faces Pushback As New York Prosecutors Target Tether, Circle
As negotiations continue in Washington over the crypto market structure legislation known as the CLARITY Act, New York’s top law enforcement officials are now turning their attention to a bill that has already become law.
Led by New York Attorney General Letitia James, a group of senior prosecutors is raising concerns about the GENIUS Act, the first major US crypto law focused on regulating stablecoins.
Alleged Regulatory Gaps In Crypto LawAccording to a report from CNN, James joined four district attorneys, including Manhattan District Attorney Alvin Bragg, in warning lawmakers that the GENIUS Act fails to adequately protect victims of financial crime.
In a letter to Congress, the prosecutors argue that the law gives what they describe as an “imprimatur of legitimacy” to stablecoins, while allowing issuing companies to sidestep critical regulatory obligations needed to combat terrorism financing, drug trafficking, money laundering, and, in particular, cryptocurrency fraud.
A central concern for the prosecutors is not what the GENIUS Act includes, but what it leaves out. They argue that the law does not require stablecoin issuers to return stolen funds to victims of fraud. This omission, they say, risks encouraging harmful behavior.
In their view, the lack of a clear legal obligation could embolden stablecoin companies to retain stolen assets rather than cooperate fully with law enforcement efforts to make victims whole. The prosecutors warned that this gap may effectively provide legal cover for firms that choose to keep control of stolen funds.
Tether Rejects AllegationsThe letter singles out the two largest stablecoin issuers, Tether (USDT) and Circle (USDC), claiming both have hindered efforts to seize and return illicit funds, while continuing to profit from activity that prosecutors say remains widespread in stablecoin markets.
The prosecutors allege that the company has used this power inconsistently and primarily in coordination with federal law enforcement, rather than in response to state or local actions.
As a result, they argue, many victims have little chance of recovering stolen funds once assets are converted into USDT. The letter states that funds moved into USDT are often never frozen, seized, or returned, and that Tether currently decides on a case‑by‑case basis whether to assist in recovery efforts.
Tether responded to CNN by strongly rejecting the suggestion that it tolerates illicit activity. The company said it takes fraud, consumer harm, and misuse of USDT extremely seriously and maintains a zero‑tolerance policy toward criminal behavior.
Circle Faces Sharper ScrutinyThe prosecutors’ criticism of Circle, the second‑largest stablecoin issuer, is even sharper. Circle is publicly traded and based in New York, and the letter acknowledges that the company presents itself as a partner in the fight against financial crime.
However, the prosecutors argue that Circle’s policies are “significantly worse than those of Tether” when it comes to helping victims recover stolen funds.
They allege that even when Circle agrees to freeze assets linked to fraud, it typically retains control of those funds rather than returning them to victims or law enforcement.
By holding the underlying reserves, the prosecutors say, Circle continues to earn interest, creating what they describe as a “crystal clear” financial incentive to delay or deny fund returns.
Circle pushed back against these claims in a statement to CNN. Dante Disparte, the company’s chief strategy officer, said Circle has consistently prioritized financial integrity and the advancement of strong regulatory standards in the US and globally.
He argued that the crypto law clearly requires stablecoin issuers to follow applicable rules to combat illicit activity while also strengthening consumer protections.
Featured image from OpenArt, chart from TradingView.com
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XRP Open Interest Falls to Lowest Level Since 2024: Market Reset Or Warning Signal?
XRP has entered a critical phase after losing the $1.80 level and sliding toward the $1.60 zone, where price is now attempting to find short-term support. The move comes amid broader weakness across the crypto market, but XRP’s structure shows an additional layer of stress that goes beyond spot price action. According to a recent report from CryptoQuant, the derivatives side of the XRP market is undergoing a sharp contraction in leverage, signaling a meaningful shift in trader behavior.
Data shows that open interest across all XRP derivatives platforms has fallen to roughly 902 million, marking its lowest level since 2024. This is a stark contrast to conditions seen during 2025, when open interest consistently hovered between 2.5 and 3.0 billion. The magnitude of this decline suggests that leverage is being actively unwound rather than merely rotating between exchanges, pointing to a broader risk-off adjustment.
Such contractions often reflect a market that is de-risking after extended volatility. With fewer leveraged positions in play, price movements tend to become slower but more deliberate, as speculative excess is flushed out. As XRP tests the $1.60 area, analysts are closely watching whether this leverage reset lays the groundwork for stabilization—or signals deeper downside still ahead.
Leverage Reset Signals a Potential Base-Building PhaseThe report adds important color by breaking down where the leverage reduction is taking place. On Binance, open interest in XRP derivatives has fallen to around 458 million. While this figure remains above the levels observed last December, it still represents a sharp contraction from the highs seen earlier in the cycle.
Crucially, this decline on Binance mirrors what is happening across other major trading venues, reinforcing the view that the market is undergoing a broad deleveraging phase rather than a simple migration of positions between exchanges.
From a structural standpoint, this matters. When open interest compresses simultaneously across platforms, it typically reflects traders actively reducing risk and closing leveraged exposure. This kind of environment often precedes periods of price consolidation, as the market digests prior volatility and searches for a new equilibrium. In past cycles, these phases have frequently led to the formation of base structures, particularly when selling pressure fades and volatility compresses.
Looking ahead, analysts note that any recovery in open interest will be critical to monitor. A rebound in leverage that coincides with improving price momentum could serve as an early signal that a new trend is developing.
For now, however, the drop in open interest to its lowest level since 2024 points to a clear market cleanup. While this reset may appear quiet on the surface, it can provide a healthier foundation for future moves—provided risk management remains front and center in the next phase of XRP’s market evolution.
XRP Price Showing WeaknessXRP price action continues to reflect structural weakness as the asset trades decisively below its key moving averages and tests the $1.60 zone for support. The chart shows a clear transition from a prior uptrend into a sustained downtrend, marked by lower highs and lower lows since the October peak near the $3.50–$3.60 region. Momentum has steadily deteriorated, with each rebound failing below the declining short- and medium-term moving averages, signaling persistent seller control.
The loss of the $1.80 level is technically significant. This zone previously acted as a consolidation base and demand area, but the clean breakdown suggests that buyers have stepped aside rather than aggressively defending the price. XRP is now trading below the 50-day and 100-day moving averages, while the 200-day moving average above continues to slope downward, reinforcing a bearish medium-term structure.
Volume remains relatively muted compared to earlier distribution phases, which aligns with the derivatives data showing a contraction in leverage rather than panic-driven liquidation. This supports the view that the current move is more of a controlled unwind than a capitulation event.
As long as price holds the $1.55–$1.60 region, XRP may attempt to stabilize and form a base. However, a failure to hold this area would expose the market to a deeper retracement toward prior demand zones near $1.30–$1.40.
Featured image from ChatGPT, chart from TradingView.com
ADA Falls Out of Top 10 Ranking While Hyperliquid Surges, Is Cardano Losing Its Edge?
Cardano’s ADA token has slipped out of the crypto top 10 by market capitalization, a symbolic shift as newer platforms attract attention and capital.
Related Reading: Hong Kong Prepares To Grant Limited Batch Of Stablecoin Licenses In March – Report
While ADA struggles with price pressure and political controversy around crypto regulation, Hyperliquid’s HYPE token has surged sharply, underscoring how quickly market leadership can change in the current cycle.
The contrast accentuates diverging narratives, one centered on governance and ideology, the other on rapid product expansion and trader demand.
Hyperliquid Rally Fueled by New Market DesignHYPE jumped more than 20% after the HyperCore team backed HIP-4, a proposal that introduces “outcome trading” to the protocol. The move pushes Hyperliquid beyond its core perpetual futures offering into event-based contracts, a category that includes prediction markets and bounded outcome instruments.
Following the announcement, HYPE reached its highest price since late November 2025, with trading volume climbing to around $1 billion. Open interest on the platform has also expanded, reflecting rising participation.
The proposal is currently live on testnet and is expected to launch with fully collateralized contracts that avoid leverage and liquidations, differentiating them from traditional derivatives.
The timing aligns with broader growth in prediction markets. Industry data shows monthly trading volume in the sector hit a record in January, driven by platforms such as Kalshi and Polymarket.
Cardano (ADA) Faces Price Pressure and Political HeadwindsWhile Hyperliquid gains momentum, Cardano has faced a different set of challenges. ADA dropped around 7% following public comments from founder Charles Hoskinson criticizing the proposed US “Clarity Act,” which aims to define regulatory oversight between the SEC and CFTC.
Hoskinson argued the bill favors banks and centralized custodians, warning it could undermine decentralized finance. These remarks reignited debate over Cardano’s positioning as a values-driven project at a time when parts of the industry are moving closer to traditional finance.
Although Cardano continues to emphasize research-led development, decentralized governance, and long-term infrastructure upgrades, market sentiment has been less forgiving in the short term.
Shifting Rankings Reflect Changing PrioritiesADA’s exit from the top 10 does not signal the end of the project, but it does reflect changing investor priorities. Tokens tied to fast-growing use cases and near-term trading activity are gaining ground, while slower-moving platforms face tougher scrutiny.
Related Reading: Strategy Announces New Buy Even As Crash Threatens Cost Basis: 855 Bitcoin Added
Currently, Hyperliquid’s rise and Cardano’s slide illustrate a market increasingly driven by execution speed and product relevance rather than legacy status alone.
Cover image from ChatGPT, ADAUSD chart on Tradingview
UAE Puts Diamonds On The XRP Ledger: $280 Million+ Now On-Chain
Ripple says more than AED 1 billion (over $280 million) of certified polished diamonds held in the United Arab Emirates have been tokenized on the XRP Ledger, in a deal that ties a high-value physical inventory to on-chain issuance, custody, and (eventually) secondary-market rails.
The initiative, announced Tuesday by Billiton Diamond and Ctrl Alt, is pitched as an end-to-end tokenization effort for certified polished diamond inventory in the Dubai market, one that is designed to make provenance, grading, and ownership history verifiable before a transaction, while compressing settlement and operational workflows that have historically relied on offline certification and paper-heavy transfer processes.
XRP Ledger Powers Dubai Tokenization PushAccording to the companies’ press release, Ctrl Alt has already tokenized more than AED 1 billion in diamonds, with tokens minted on the XRP Ledger. The partners said the network was selected for “fast settlement, low fees, and scalable architecture,” while the tokenized assets are secured through Ripple’s “enterprise-grade custody technology.”
Reece Merrick framed the move as a proof point that custody and auditability are central to institutional-grade commodity tokenization. “This initiative shows how Ripple’s technology can bridge the gap between physical assets and the digital economy, utilising our enterprise-grade custody solution to secure high-value diamond assets with unrivalled trust and security,” Merrick wrote on X.
He added that the firms were “providing the infrastructure needed to move physical commodities on-chain at scale,” calling it “a significant leap forward for the future of commodities tokenization.” Notably, the firms first announced their partnership in July last year.
Billiton, which the release describes as a leader in rough diamond auctions using a Vickrey auction model, said the collaboration is intended to expand into tokenized polished diamond sales phases. The planned platform would embed real-time inventory management and certification data on-chain, enabling verification of origin, grading, and ownership history before trades.
The firms also pointed to future “secondary market readiness” workstreams: custody, transfer, and market participation, implying the tokens are being structured not just as a digitized record, but as infrastructure for distribution.
The press release said the next stages are subject to regulatory approval by Virtual Assets Regulatory Authority (VARA) prior to launch. That detail matters: the partners are explicitly positioning the effort as compliant market infrastructure, not a one-off proof of concept.
Jamal Akhtar argued the core unlock is liquidity and time-to-cash in a market where diamonds have traditionally been operationally complex to finance and transfer.
“This partnership transforms polished diamonds from a traditionally illiquid asset class into a transparent, investable digital asset that supports manufacturers, brands, and investors alike,” Akhtar said. “Tokenization introduces an unprecedented level of transparency, unlocking the potential for new liquidity, shortening working capital cycles for manufacturers and traders, and opening the door to seamless global participation in Dubai’s growing luxury ecosystem.”
The announcement also credits DMCC with connecting stakeholders and helping build the ecosystem for diamond tokenization, with Ahmed Bin Sulayem describing DMCC as a “bridge between commodities, capital and next-generation digital markets,” and pointing to coordination with VARA as part of the framework underpinning the rollout.
Ctrl Alt’s Robert Farquhar said: “Billiton needed robust, institutional-grade infrastructure to handle the complexity and scale of its polished diamond supply. Our proven tokenization expertise and technology provide a clear, secure, and compliant route for diamond ownership to move on-chain, from asset origination to digital market participation. This establishes a more accessible and operationally efficient model for commodity investment in the UAE.”
At press time, XRP traded at $1.60.
Bitcoin Holds $78K Amid Signs Of Economic Recovery: Analysts
A surprise uptick in a key factory gauge has traders rethinking risk, while crypto watchers debate whether Bitcoin will ride a fresh wave higher or stay stuck in a drawdown.
The ISM Manufacturing PMI rose into expansion territory in January, and that single data point has set off a flurry of takes from market strategists and crypto analysts alike.
ISM Manufacturing Signals ShiftAccording to the Institute for Supply Management, the PMI clocked in at 52.6 for January. That number crosses the line that separates contraction from growth.
For investors who watch signals closely, a move like that can mean money starts flowing back into assets seen as higher risk.
“Past breakouts in 2013, 2016, and 2020 served as key catalysts for Bitcoin’s major bull runs,” Strive vice president of Bitcoin strategy, Joe Burnett, said.The Fed will notice. A stronger manufacturing print changes the debate about inflation and rate policy. Traders price in the chance of tighter policy when growth looks solid.
At the same time, some economists point out manufacturing is only one piece of the puzzle. Services, employment, and consumer demand also matter. Reports note the index reading was the best since August 2022, which makes it notable on its own.
One of the longest ISM Manufacturing PMI contraction periods in U.S. history ended this morning with a breakout to 52.6, up 4.7 points from December.
Past breakouts in 2013, 2016, and 2020 served as key catalysts for Bitcoin’s major bull runs.
This ends 26 consecutive months of…
— Joe Burnett, MSBA (@IIICapital) February 2, 2026
Bitcoin Price Action And Market MoodBitcoin’s price has been choppy. After hitting a high above $125,000 late last year, it tumbled and then bounced into the $78,000 area. Reports say the drop followed a major liquidation event and a string of macro shocks that pushed investors toward safe assets.
Some buyers are taking the dip as an entry point. Others remain on the sidelines. Correlations with stock tech names have been strong, which means Bitcoin has behaved more like a risk asset than a digital gold in recent months.
A few traders argue rising PMI readings often precede “risk-on” periods, when speculative bets return. Still, this link is not ironclad. Bitcoin’s moves are shaped by liquidity flows, ETF money in and out, geopolitical flare-ups, and crypto-specific events. The market is being pushed from several directions at once.
Whom To Trust On ForecastsInstitutional voices are splintered. Based on reports from various firms, estimates range from cautious to wildly optimistic. One firm projects a post-crash rally that could send prices well above current levels by year-end.
Another research house warns of more retracement before any sustained upswing. A large institutional player declined to peg a number at all, calling the environment too chaotic to forecast with confidence.
That kind of range tells a clear story: uncertainty rules. Analysts who tie Bitcoin to macro cycles are gaining followers, while those who treat it as an independent asset argue for a different playbook.
Why This MattersShort-term traders will watch economic prints and liquidity data closely. Longer-term holders will weigh Bitcoin’s role relative to gold and equities. Reports say market structure—who’s buying, who’s selling, and where ETFs are seeing flows—will likely matter as much as any single economic release.
The ISM rise may be the start of a healthier risk tone for global markets, but it will not on its own guarantee a steady climb for Bitcoin. Risk is back on the table, in a manner of speaking, and the path forward will depend on how policy makers, big investors, and retail traders react in the next several weeks.
Featured image from unsplash, chart from TradingView
US Lawmakers Slam $500M WLFI-UAE Deal, Call For Anti-Corruption Reform
US Lawmakers have called for better anti-corruption measures over the $500 million deal between an Abu Dhabi-backed entity and World Liberty Financial Invest (WLFI), the main crypto venture of the Trump family.
Congressmen Question WLFI’s UAE-Backed DealOn Monday, Democratic Senator Chris Murphy criticized the recently unveiled deal involving United Arab Emirates (UAE) investors and a US President Trump-linked crypto company, World Liberty Financial.
In an X post, the congressman expressed his concerns over the deal, warning that it had broken “decades of national security precedent” and constituted “brazen, open corruption” that Americans “shouldn’t pretend it’s normal.”
The concern follows a Wall Street Journal report alleging that Aryam Investment, a UAE-backed entity linked to Sheikh Tahnoon bin Zayed, an Abu Dhabi royal tied to the emirate’s state investment machinery, purchased 49% stake of WLFI for $500 million just days before Trump’s inauguration.
As reported by Bitcoinist, the news media outlet claimed that the buyers paid half of the sum upfront, citing company documents and people familiar with the matter, with around $187 million paid to entities connected to the Trump family.
Meanwhile, at least $31 million was reportedly directed to entities affiliated with Steve Witkoff, President Trump’s envoy to the Middle East and one of WLFI’s co-founders, who was questioned by US senators last year.
Months after the WLFI-UAE deal, the Trump administration approved expanded access for the UAE to advanced US-made AI chips despite restrictions from the Biden administration over concerns about potential diversion to China.
“This is a case where they knew it was so outrageous, it was so wrong that they did it in private,” Murphy affirmed, noting that the payments could be considered “the elements of a bribe.”
What we are talking about here is stunning. It’s a secret payment (…), and then, soon after, a gift of national security secrets to the UAE, that up until those two secret payments, every American president had refused to give. This is corruption (…). This is potentially criminal conduct.
Moreover, the senator asserted that “the rule of law may be suspended today,” but declared that it “is coming back, and when it does, everyone who has greased their palms off government services, trading government favors for cash, and violating the laws of this nation are going to jail.”
Similarly, House of Representatives member Greg Landsman also deemed the World Liberty Financial deal “blatant corruption,” affirming that “Trump gets $500 million in cash then approves the deal sending advanced AI chips to the UAE (…). He gets richer every day. You get poorer. That’s his presidency.”
The congressman called for new leadership in his X post, urging “massive anti-corruption reforms” to avert future secret deals.
Trump Denies Conflict Of Interest ConcernsPresident Trump denied any involvement in the UAE-backed investment into WLFI during a press conference on Monday at the White House, asserting that he was unaware of the $500 million stake deal.
He explained that he is not involved in WLFI’s day-to-day operations, as his sons oversee the crypto firm. “Well, I don’t know about it. I know that crypto is a big thing, and they like it. A lot of people like it,” the US president said. “The people behind me like it. My sons are handling that. My family is handling it. And I guess they get investments from different people. But I’m not.”
Notably, President Trump and his administration have been repeatedly questioned about potential conflicts of interest and corruption concerns. Democrats have pressed multiple government officials, including the Securities and Exchange Commission (SEC)’s former acting chairman and the head of the Office of the Comptroller of the Currency (OCC), about Trump’s crypto ventures.
In November, US senators expressed concerns about potential national security risks in a letter, demanding that the Department of Justice (DOJ) and the Treasury Department investigate WLFI over token sales allegedly linked to illicit actors.
They argued that World Liberty Financial and its token “lack adequate safeguards to prevent bad actors from moving funds or gaining influence over its governance,” raising the alarm over a potential conflict of interest.
Bitcoin Wave 3 Crash: What’s Next As Price Makes A Rebound?
Bitcoin’s price action over the past 24 hours has changed from outright selling pressure to a cautious rebound. After falling into the mid-$75,000 region, the cryptocurrency found support around $75,400. That support has since carried BTC back toward $79,000, with the price now pushing higher, and momentum can rebuild toward the important $80,000 price level.
Although the bounce has eased immediate downside pressure, a technical analysis shared on X shows that the move may be occurring within a much larger bearish structure that could still have enough time to develop.
Elliott Wave Structure Points To A Wave 3 CrashTechnical analysis shows that the recent Bitcoin sell-off and crash below $80,000 fit squarely within a larger Elliott Wave structure that still points to additional downside ahead. The Bitcoin technical chart outlines an extended decline that’s been playing out from the $126,000 peak in October 2025.
TheBitcoin Historical Performance Shows How Low The Price Will Go Before A BottomBitcoin kicked off a five-wave downward impulse move after it peaked at $126,000 in October. From the October 2025 high near $126,000, Bitcoin has already fallen roughly 41%, a drawdown the analyst claims aligns closely with prior warnings of a 40% to 50% crash in the early phase of a bear market.
According to the analyst, Bitcoin completed its Primary Wave 4 near the $97,900 region before rolling over into Primary Wave 5. This Primary Wave 5, which is a downward wave, is divided into smaller impulse waves. Within that larger decline, Bitcoin is now said to be deep inside Intermediate Wave 3, which is typically the most aggressive and damaging leg of an Elliott Wave move.
Where The Analyst Sees The Bottom FormingBitcoin is expected to transition into Intermediate Wave 4 after Wave 3 is completed, which may offer temporary relief or consolidation. However, that pause is expected to be followed by Intermediate Wave 5, a final leg lower that could push the Bitcoin price to new cycle lows before the entire wave structure reaches completion.
Looking ahead, the analysis outlines a potential bottoming zone between $60,000 and $63,000 for Wave 5. However, the analyst noted that Bitcoin could even briefly probe lower and fall to the 200-week moving average around $58,000, before finally exhausting selling pressure. In this framework, the current rebound from the $75,000 area is viewed as a pause within the downtrend, not confirmation that the lows are in.
Once that low is established, the next outlook is that a sizeable bear-market rally will follow. The chart projects a recovery back toward the 200-day moving average, with upside targets stretching into the $90,000 to low-$100,000 range. That move was described by the analyst as a counter-trend rally before what could be the next major leg lower later in the cycle.
Bitcoin Slips Deeper Into Correction With Spot Demand Drying Up – What To Know
After losing the $80,000 price mark, the price of Bitcoin has made several attempts to recover this level, but each one was capped by this resistance zone, which was once a key support. Interestingly, this continued bearish pressure is beginning to reflect on multiple crucial areas of the market, such as Spot trading.
Lack Of Spot Bitcoin Buyers ExtendsThe broader cryptocurrency market was left in awe when the Bitcoin price experienced a sharp pullback during the weekend. Even after a strong decline, the ongoing correction is showing signs of becoming more entrenched, as evidenced by weak spot trading.
A glimpse into research from Darkfost, a popular market expert and author at CryptoQuant, shows that spot demand is steadily drying up. This suggests that fewer buyers are choosing to enter the market to absorb sell-side pressure, leaving BTC’s price highly vulnerable to even modest outflows.
In addition to the fading spot demand, the market is set to enter into its fifth consecutive month of downside pressure. Since fewer buyers have entered the spot market, selling activity has had a disproportionate effect on price, which in turn is extending the decline.
Darkfost highlighted that this correction has been largely driven by the October 10th, 2025, event. During the period, there has been a massive destruction of liquidity, particularly in the Futures market. In a single day, BTC’s Open Interest (OI) fell by more than 70,000 BTC, representing over $8 billion wiped out. However, the expert stated that this is not the only factor at play.
The chart shows that overall market liquidity is also under pressure, which is indicated by stablecoin outflows from crypto exchanges. At the same time, there was a roughly $10 billion decline in stablecoin market capitalization over the period. However, developments in spot market volumes are as instructive.
Spot Trading Volume Slips Into Two After Fresh DeclineSince October 2025, about half of Bitcoin’s entire spot volume has gone, with Binance, the leading crypto platform, still holding the largest share at $104 billion. In contrast, volumes on Binance had almost hit $200 billion in October, against the $53 billion on Gate.io and $47 billion on Bybit.
According to Darkfost, the market has returned to some of its lowest levels since 2024 as a result of this volume decrease. Meanwhile, this suggests a definite disengagement from investors in the crypto market and, consequently, weaker demand.
In the meantime, the current state of the environment remains uncertain and does not encourage investors to take risks. For a sustainable recovery to take place, the expert noted that it is vital to persistently monitor this trend and, above all, to see spot trading volumes return to the upside.
At the time of writing, the price of BTC was $78,640, up nearly 3% in the last 24 hours. Its trading volume is moving in the opposite direction, falling by over 16% in the past day.
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Billionaire Entrepreneur Says Bitcoin Price Crash Is A Gift, Here’s Why
A sudden drop in the Bitcoin price wiped billions from the crypto market in a matter of hours, triggering panic among traders and forcing many leveraged positions to close. While most investors focused on the losses, a billionaire entrepreneur took a very different view, calling the crash a gift rather than a setback. His reasoning explains why sharp price corrections are sometimes welcomed by experienced market participants.
Why A Violent Bitcoin Price Pullback Can Strengthen The MarketThe price decline unfolded at the end of January 2026, when the Bitcoin price dropped from levels near $83,000 to lows around $77,000, marking a decline of more than 5% in a single move. The drawdown triggered over $2.4 billion in liquidations, with long positions accounting for the majority of forced exits. This was not a slow repricing but a leverage-driven flush, visible both in liquidation data and the Bitcoin price chart, which showed a swift breakdown followed by an early-stage rebound toward the $78,500 area.
Barry Silbert, founder of Digital Currency Group, publicly described the crash as a “gift from the gods,” arguing that such events play a functional role in Bitcoin’s market cycle. His view centers on the idea that excessive leverage and speculative positioning create fragility. When price stretches too far, too fast, the market becomes vulnerable to cascading liquidations. The resulting correction resets positioning, removes weak hands, and restores healthier market conditions.
From a structural standpoint, the crash acted as a stress test. It exposed overextended traders, reduced open interest, and recalibrated risk across derivatives markets. Rather than signaling systemic weakness, the move reinforced Bitcoin’s tendency to self-correct after periods of aggressive upside momentum. Bitcoin’s current price action supports this interpretation, showing stabilization after the initial sell-off instead of continued free fall.
Long-Term Conviction Versus Short-Term PainThe correction also pushed the Bitcoin price below the average cost basis of some of its most visible institutional holders. Strategy founder Michael Saylor briefly saw his firm’s Bitcoin holdings dip below a cost level of approximately $76,037, a situation not seen since October 2023. Instead of signaling concern, Saylor responded symbolically by sharing an AI-generated image of himself running a marathon, reinforcing a long-term mindset rather than reacting to short-term volatility.
This reaction aligns with Silbert’s broader thesis. Both figures frame sharp price declines as part of Bitcoin’s maturation rather than a systemic failure, reinforcing the idea that volatility is a structural feature of an emerging asset still finding fair value. While retail traders faced immediate losses, the market ultimately emerged in a healthier state, with excess risk flushed out, speculative pressure reduced, and price stabilizing instead of spiraling lower. From that standpoint, the move functioned as a necessary reset, not a breakdown.
In that context, calling the drop a “gift” is less about celebrating losses and more about recognizing that sustainable uptrends are built on cleared excess, disciplined positioning, and long-term conviction rather than unchecked momentum.
Ripple Just Secured Another Major Win In Its Mission For Powering Global Payments With XRP
Crypto payments company and XRP developer Ripple continues to expand its reach across global regions, with its latest move revealing a new license in Luxembourg. The team has shown that this license will allow the company to provide crypto-focused payment services within the country, marking another major win in its mission to power global payments with XRP at the center of its expansion.
Ripple Gains New EMI License In LuxembourgIn a press release published on Monday, February 2026, the Ripple team announced that the company had achieved a significant milestone by obtaining a full European Union (EU) Electronic Money Institution (EMI) license in Luxembourg. The license was granted by the Commission de Surveillance du Secteur Financier (CSSF), Luxembourg’s primary public authority overseeing the financial services sector.
According to the team, the new EMI license further strengthens the crypto payment company’s foothold and supports plans to accelerate the expansion of payment services across the European Union. Notably, the payment firm has been actively pursuing this new license for months. It announced preliminary approval of its EU license earlier in January 2026, revealing that it had met all conditions and requirements set forth by the CSSF, leading to full authorization to operate in the country.
Cassie Craddock, Ripple’s Managing Director for the UK and Europe, described the achievement as “transformative,” emphasizing that it is a significant milestone that strengthens Ripple’s presence at the heart of European finance, one of the world’s most important financial markets. According to Craddock, Europe has long been a strategic expansion priority for the crypto company, and the new EMI license will now enable the company to scale its mission of delivering secure, robust, and compliant blockchain infrastructure to customers across the EU.
She added that the regulatory approval positions the firm to support European businesses in transitioning toward a more efficient, digital-first financial model, reflecting the company’s commitment to facilitating innovation while adhering to strict compliance standards. It also underscores Ripple’s ongoing mission to power blockchain-based payments and deliver solutions using XRP in a region with growing demand for secure and cutting-edge financial technologies.
Ripple And XRP Expand Global Licensing FootprintIn the press release, the Ripple team revealed that the company’s new Luxembourg EMI license comes amid rapid growth in the company’s global regulatory portfolio. Just last month, the crypto company secured both its EMI license and Cryptoasset Registration from the UK’s Financial Conduct Authority (FCA).
According to the team, Ripple now holds over 75 regulatory licenses worldwide, positioning it as one of the most highly regulated and broadly authorized crypto companies in the space. They emphasized that this extensive regulatory oversight strengthens Ripple’s ability to scale its digital asset solutions, including XRP, enabling institutions to transition from legacy systems to modern digital asset infrastructure.
XRP Locked In DeFi Continues To Rise Across The Ecosystem – Here’s How Much
With the DeFi ecosystem experiencing continued growth, a notable amount of XRP is being seen across the sector. After a period of reduced demand, more of the token has been moved into several areas of the ecosystem, such as decentralized applications (dApps) and on-chain finance products.
More XRP Moves Into DeFi EcosystemXRP is becoming a pillar for on-chain utilization. A recent report shows that the quantity of XRP in circulation inside the Decentralized Finance (DeFi) ecosystem is continuously growing, indicating a significant change in the way the asset is utilized throughout the network.
According to Mason Versluis, a builder and YouTuber on the X platform, there are now more than 222.2 million XRP in the DeFi ecosystem. More coins are migrating into decentralized applications, liquidity pools, and on-chain financial products, reflecting rising confidence in XRP-based DeFi infrastructure.
Such a massive supply implies that XRP is becoming more involved in yield production and on-chain liquidity, going beyond basic transfers. Furthermore, the growing DeFi network may become increasingly significant in determining the long-term demand and usefulness of the leading altcoin.
Versluis has also underscored the significance of the development to XRP. Why this is amazing is that if the token is being used, it is likely not going to be sold. Currently, the builder highlighted that there is a need for many people to buy, hold, and not sell their tokens. “Get back to the basics of how crypto goes up,” Versluis added. However, the analyst is unsure if there is enough retail money left to raise the token to the level that cryptocurrency players desire.
In the meantime, mega wealth is steadily investing in the altcoin. A clear example is the Exchange-Traded Funds (ETFs), which are great because they are bought at a higher price than small or retail investors can access.
Ripple New Milestone To Bolster AdoptionRipple continues to make bold steps that could extremely bolster the company’s status and spur fresh interest for XRP and its ecosystem. Paul Barron, a technologist and crypto investor, has unveiled the payment firm’s latest achievement in the financial landscape, which is making waves across the community.
The post discloses that the company has hit a major regulatory milestone after formally acquiring its full Electronic Money Institution (EMI) license from Luxembourg. Ripple’s regulatory position in Europe is strengthened by the approval, which enables it to provide e-money and payment services that are compliant throughout the EU under a well-defined legal framework.
By addressing some confusion about the acquisition, Barron stated that Ripple now holds over 75 global licenses, including the two most critical financial hubs, which are London and Luxembourg. With complete “passporting” privileges in all 27 EU countries, XRP and Ripple’s stablecoin RLUSD are now officially open for institutional adoption. Once this happens in the US with Clarity, institutional interest might skyrocket.
На биткоин-рынке формируется «воздушный зазор» — аналитики Compass Point
Bitcoin Price May Slide To $58,000, Galaxy Digital Warns
Galaxy Digital is warning that the Bitcoin selloff may not be finished, arguing that on-chain data, weakening technical levels, and a thin catalyst calendar leave BTC vulnerable to a deeper retracement toward the high-$50,000s over the coming weeks or months.
In a client note dated Feb. 1, 2026, Galaxy researcher Alex Thorn framed last week’s drawdown as more than a brief shakeout. Bitcoin fell 15% from Monday, Jan. 28 through Saturday, Jan. 31, with the move accelerating into the weekend. Saturday alone saw a 10% slide that, according to the note, triggered one of the largest liquidation events on record, wiping out more than $2 billion in long positions across futures venues.
Why The Next Weeks, Months Look Bearish For BitcoinThe selloff pushed BTC as low as $75,644 on Coinbase and briefly drove the spot price below several widely watched investor cost bases. Thorn noted that BTC dipped as much as 10% beneath the average cost basis of US spot ETFs, estimated around $84,000 based on the prices at which creations occurred, before recovering some ground. At one point, BTC also pierced Strategy’s average cost basis of $76,037, and nearly revisited the 1-year low of $74,420 set during the April 2025 “Tariff Tantrum.”
At the time of writing, Thorn pegged Bitcoin at roughly 38% below its Oct. 6, 2025 all-time high of $126,296. Historically, he argued, that magnitude matters: with the exception of 2017, the asset has not typically stopped at a 40% drawdown from peak without extending toward 50% within three months. A 50% decline from the October high would imply a move toward roughly $63,000.
Thorn’s central roadmap was defined by two long-term reference points that have repeatedly acted as “gravity” in prior cycles after key supports failed. Bitcoin lost its 50-week moving average in November 2025, and the note argued that, in previous bull markets, losing that level often preceded a deeper mean reversion to the 200-week moving average which currently sits around the $58,000 price mark.
Meanwhile, realized price, an on-chain proxy for the average cost basis of coins based on their last movement, is around $56,000. Both metrics rise over time if BTC trades above them.
The note pointed to ETF positioning as an additional stress test. US spot Bitcoin ETFs, launched in January 2024, had amassed $54 billion in net inflows as of the week ending Jan. 30, 2026, down from a peak of $62.2 billion in early October 2025. Thorn highlighted that the prior two weeks were the second- and third-worst for ETF flows, with combined outflows of $2.8 billion, even as ETF holders largely remained in place through the broader drawdown.
On-chain distribution data also suggested to Galaxy that the $82,000–$70,000 region could be lightly defended, increasing the odds of a downward probe. Thorn described a noticeable ownership “gap” in that band, and argued that price often seeks out zones where demand has previously been established, particularly after sharp deleveraging events.
Thorn also flagged a deteriorating narrative backdrop. “Catalysts remain hard to find. Narratives are working against Bitcoin. There’s little evidence of significant accumulation,” he wrote, adding that BTC’s recent failure to track gold and silver amid macro uncertainty has undercut the “debasement hedge” framing.
Even so, the note stopped short of calling a clean break into the $50,000s inevitable. Thorn emphasized that long-term holder profit-taking, described as exceptionally heavy in 2024 and 2025, has begun to abate, a condition that has historically coincided with late-stage selloffs.
For traders, Galaxy’s framing sets up a tactical question: whether the current ETF cost basis area near $84,000 can hold as a near-term anchor, or whether the supply gap below turns into a vacuum that pulls BTC toward the $70,000 handle. If that gives way, the more consequential test is whether realized price and the 200-week moving average in the high $50,000s again function as the kind of cycle-defined floor Galaxy believes long-term investors have historically treated as an entry zone.
At press time, Bitcoin traded at $78,301.
Saylor Says ‘Don’t Sell Your Bitcoin’, as LiquidChain Unites Liquidity for Utility
Michael Saylor says that Bitcoin isn’t currency for spending, it’s ‘economic energy’ meant to be preserved for 100 years.
The Strategy chairman’s thesis is simple: you don’t sell the winner to buy the losers. While this ‘Diamond Hand’ philosophy has shifted Bitcoin from speculative toy to treasury reserve asset, it creates a massive friction point: capital inefficiency.
While Saylor advocates for indefinite holding, the broader DeFi ecosystem is starving for high-quality collateral. Right now, traders face a binary choice: leave Bitcoin gathering dust in cold storage, or risk it in a maze of bridges, wrapped tokens, and centralized custodians just to chase yield on Ethereum. (Sound familiar?)
This fragmentation is the bottleneck of the current cycle. Liquidity is trapped in silos, making cross-chain moves slow, expensive, and technically risky. We’re seeing a shift from ‘store of value’ to ‘productive assets.’ As institutional flows stabilize, the next frontier isn’t just owning crypto; it’s using it across ecosystems without selling the bag.
This demand is fueling Layer 3 (L3) infrastructure designed to smash these barriers. Enter LiquidChain ($LIQUID), a protocol engineering a fusion of Bitcoin, Ethereum, and Solana liquidity into a single execution environment.
Breaking Down The Silos With A Unified Liquidity LayerThe real risk in the DeFi landscape today isn’t price drops, it’s execution complexity. Moving value from Bitcoin to Solana usually involves multiple hops, slippage, and ‘wrapped’ assets that introduce sketchy counterparty risk. This fragmentation means billions in liquidity remain trapped on their native chains.
LiquidChain fixes this by deploying a Cross-Chain VM (Virtual Machine) that serves as a unified execution layer.
Instead of forcing users to bridge assets manually, LiquidChain’s ‘Deploy-Once Architecture’ allows developers to build applications that tap into $BTC, $ETH, and $SOL simultaneously. That’s critical for removing the friction that kills adoption.
In the LiquidChain model, you could theoretically pledge Bitcoin collateral to access Solana-speed execution or Ethereum-based DeFi protocols in a single step. The protocol’s architecture focuses on verifiable settlement. By operating as Layer 3 infrastructure, it aggregates security from the underlying chains while offering a single interface.
If you’re a developer, this ends the headache of maintaining different codebases for different ecosystems. Instead of having to choose between Ethereum’s TVL (Total Value Locked) or Solana’s speed, LiquidChain offers a venue where they coexist.
EXPLORE UNIFIED LIQUIDITY WITH $LIQUID.
Unlocking Capital Efficiency Through Liquidity StakingSaylor’s advice to ‘never sell’ is a solid strategy, but it doesn’t solve the cash flow problem. Investors holding large caps are often asset-rich but liquidity-poor. LiquidChain tackles this through its native utility model, which centers on Liquidity Staking.
The protocol is designed to use the $LIQUID token not just for governance, but as transaction fuel powering the network. By staking liquidity, you can earn rewards derived from the economic activity passing through the Layer 3 infrastructure. It matches the ‘productive crypto’ narrative perfectly, assets generate yield without you having to sell a dime.
You can buy your $LIQUID now for $0.0135 and don’t miss the staking opportunities currently sitting at 1966%.
Plus, the platform aims to include a grant system for developers, incentivizing dApps that use this cross-chain fluidity. This ecosystem approach suggests the future of DeFi isn’t about which chain ‘wins,’ but which infrastructure connects them.
By enabling single-step execution across the industry’s three largest liquidity pools, LiquidChain positions itself as the connective tissue for the next phase of market maturity. To paraphrase an adage, it appears in crypto, it’s no longer what you have but how its connected.’
JOIN THE LIQUIDCHAIN ECOSYSTEM.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments, including presales and new protocols, carry high risks, including the potential for total loss. Always verify smart contract audits and conduct your own due diligence.
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